SharonAI (SHAZ) Q2 2026 earnings summary

Executive summary

• Achieved $8.8bn in total contract value (TCV) year-to-date, driven by major multi-year agreements with NVIDIA, global AI labs, and technology companies.

• Secured 212MW of AI Factory capacity across Australia and New Zealand, with over 64,000 NVIDIA GPUs expected for deployment by mid-2027.

• Raised $2.2bn in capital since December 2025, including a $1.6bn oversubscribed financing round and $350m in convertible notes.

• Revenue for Q2 2026 was $1.9m, up 412% year-over-year, reflecting new customer onboarding and GPUaaS business growth.

• Expanded leadership team with new CFO, Chief Legal Officer, and Non-Executive Chairman to support growth and governance.

Financial highlights

• Q2 2026 revenue: $1.9m, a 412% increase year-over-year; gross profit: $1.17m; gross margin: 61%.

• Net loss for Q2 2026 was $(430.4)m, primarily due to a $400.4m non-cash fair value loss on convertible notes.

• Adjusted EBITDA for Q2 2026 was $0.6m, compared to $(1.7)m in Q2 2025.

• Cash and cash equivalents rose to $1.9bn as of June 30, 2026.

• Total assets increased to $2.32bn as of June 30, 2026, with total liabilities at $1.19bn.

Outlook and guidance

• Revenue expected to ramp materially from Q3 2026 through 2027 as contracted capacity comes online.

• 212MW of capacity secured for deployment by end of 2027, with contracting visibility through 2031.

• Targeting deployment of more than 64,000 GPUs by mid-2027.

• Well-funded for near-term build-out, with a growing pipeline of additional capacity and customer contracts.

• Actively planning for next-generation GPU deployments (Vera Rubin) for late 2027 and 2028, with early customer demand already evident.